Pan Global Corp. has recently announced the completion of a non-brokered private placement of common shares. The company, which focuses on mineral exploration and the pursuit of the development of rare-earth elements, metals and other natural resources, is raising $1,750,000 in funds from this particular placement.
Through this offering, Pan Global is making 10,833,333 common shares available at a subscription price of $0.16 per share. The company plans to use the donations to fund its work in creating advanced metallurgic and electronic refining processes to more efficiently extract natural resources such as rare-earth elements. This, in turn, could lead to the diversification and growth of the global rare-earth element markets, which is a step in the right direction for clean and renewable energy.
The money for this offering will also be used to pursue mineral exploration and processing of strategic metals, including copper and gold, and exploration and development of high-grade lithium-ion battery-grade graphite. This is an effective way for the company to guarantee a sufficient and reliable supply of metals for its current and future projects.
In addition, the funds will also be used for general working capital and other corporate purposes. The non-brokered private placement has already been accepted in full and the common shares are now effective immediately.
Pan Global Corp. believes that this placement will provide the necessary funding to strengthen its position in the mining and resources industry and continue to develop its natural resource projects on a global scale. With this funding, the company will be able to continue to create innovative and cost-effective processes and solutions, which should eventually lead to a more diversified global resource market.